Last year was a tumultuous one for the U.S. municipal bond market, with individual investors fleeing in droves, according to new data released by the Federal Reserve.
The household sector held $1.62 trillion in municipal bonds in the fourth quarter of 2013, down from $1.647 trillion in the previous quarter and the lowest since $1.58 trillion in the first quarter of 2006.
Individuals, however, are still the biggest investors in the municipal bond market, which totals $3.671 trillion, the lowest since it ended 2008 at $3.52 trillion.
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